Interdum stultus opportuna loquitur...

Tuesday, July 26, 2005

OzRant: The Market Bogarted My Buzz...

Note - from June 24th 2009, this blog has migrated from Blogger to a self-hosted version. Click here to go straight there.

The broad market - the ASX All Ordinaries (XAO - go on, click on it... you know you want to see an Index RantChart) - rose by 2.50 points (0.06%), finishing at 4338.10 points. The index hit an intraday high of 4346.60  at 2 p.m. (barely surpassing the 1 p.m. level) after dipping to its intraday low at 4326.1 (4325-ish) at 10:15 a.m. Sydney time. yet agai9n, a close in pretty much the mid-point of the day's range.

Total volume traded on the ASX was a solid 920 million units, although volume has been pretty high of late, since today's is 6.0% below the recent 10-day average. Of the 483 stocks in All Ords index, things were slightly tilted to the gainers (as far as the stocks that moved were concerned) - 180 rose while 165 fell. Volume was tilted in favour of the losers by a margin of 1.6:1, with 325.16 million shares traded in losers while 208.21 million shares traded in the day's gainers.

The Index that forms the cash basis for the SFE's Share Price Index Futures - the S&P/ASX 200 (XJO) - rose by 1.70 points (0.04%), finishing at 4380.50 points. I was really hoping that the index would hit (or test, or nudge, or sidle up to, or somehow contact) 4400 today, since I had prepared a whole swag of snarky comments about over-rated sci-fi/UFO shows and their relationship to the market. ('The 4400' makes its reappearance on TV tonight).

Actually I hadn't prepared a swag of snarky comments... but wouldn't it have been neat if I had, and the index had made it to 4400? It would've like, totally been.... like, just amazing?

The "heavy hitters" of the Australian market - the ASX 20 Leaders (XTL) - rose by 2.20 points (0.09%), finishing at 2352.60 points. Within the index members, there were 11 that rose, and 9 losers. Total volume in rising issues within the ASX20 amounted to 48.61 while volume in the losers totalled 34.79m units.

The major winners in the "big guns" were -

  • QBE Insurance Group (QBE), +$0.140 (0.84%) to $16.760 on volume of 1.77m shares;
  • Telstra Corporation (TLS), +$0.040 (0.78%) to $5.140 on volume of 19.52m shares;
  • Alumina (AWC), +$0.040 (0.7%) to $5.750 on volume of 4.78m shares;
  • St George Bank (SGB), +$0.180 (0.67%) to $26.950 on volume of 1.72m shares; and
  • Rio Tinto (RIO), +$0.300 (0.63%) to $47.660 on volume of 1.85m shares.

The following stocks made up the biggest percentage losers in the big-guns:

  • Foster's Group (FGL), -$0.06 (1.07%) to $5.54 on volume of 5.2m shares;
  • Amcor (AMC), -$0.05 (0.71%) to $6.96 on volume of 2.41m shares; and
  • News Corporation (NWS), -$0.13 (0.56%) to $23.11 on volume of 1.35m shares; and
  • Westfield Group (WDC), -$0.09 (0.51%) to $17.48 on volume of 2.78m shares; and
  • News Corporation (NWSLV), -$0.11 (0.5%) to $21.85 on volume of 1.1m shares.

At the smaller end of the market's capitalisation scale, the ASX Small Ordinaries Index (XSO) - the only place where underexploited value exists with any regularity - rose by 4.00 points (0.16%), finishing at 2459.90 points. The major winners in the "pop-guns" were -

  • Baycorp Advantage (BCA), +$0.580 (18.01%) to $3.800 on volume of 6.6m shares;
  • Chemeq (CMQ), +$0.120 (11.32%) to $1.180 on volume of 1.14m shares; and
  • Metabolic Pharmaceuticals (MBP), +$0.060 (9.68%) to $0.680 on volume of 1.94m shares; and
  • Genetic Technologies (GTG), +$0.035 (8.86%) to $0.430 on volume of 1.45m shares; and
  • Coffey International (COF), +$0.230 (8.3%) to $3.000 on volume of 132,000 shares.

The losingest-little-guys for the session were (in order of decline):

  • Multiemedia (MUL), -$0.004 (14.81%) to $0.023 on volume of 158.6m shares;
  • Croesus Mining (CRS), -$0.020 (5.48%) to $0.345 on volume of 4.22m shares; and
  • Virotec International (VTI), -$0.035 (4.05%) to $0.830 on volume of 609,000 shares; and
  • Nylex (NLX), -$0.010 (3.85%) to $0.250 on volume of 2.12m shares; and
  • Macquarie Communications Infrastructure Group (MCG), -$0.240 (3.56%) to $6.500 on volume of 1.01m shares.
Index Changes
XAOAll Ordinaries4338.12.50.06%662.68m
XTLS&P/ASX 202352.62.20.09%83.4m
XFLS&P/ASX 504317.920.05%174.22m
XTOS&P/ASX 10035561.20.03%304.39m
XJOS&P/ASX 2004380.51.70.04%393.73m
XKOS&P/ASX 3004372.720.05%0
XMDS&P/ASX Mid-Cap 504227.5-1.2-0.03%0
XSOS&P/ASX Small Ordinaries2459.940.16%305.53m

All Ordinaries Market Internals

Market Breadth

Advancing Volume48.61m134.21m158.44m208.2158.28335.41
Declining Volume34.79m117.38m148.33m325.16203.37470.96

S&P/ASX200 GICS Sector Indices

Note that clicking on the sector index code now pops up a little chart. I would greatly appreciate it if folks would let me know if they are slow in loading (particularly for those with dial-up connections).

The top sector for the day was XIJ Information Technology which gained 2.61% to 412.30 points. The sector was helped by

  • Baycorp Advantage (BCA), +$0.580 (18.01%) to $3.800 on volume of 6.6m shares;
  • Infomedia Ltd (IFM), +$0.005 (0.83%) to $0.605 on volume of 432,000 shares;
  • IRESS Market Technology (IRE), +$0.020 (0.46%) to $4.370 on volume of 145,000 shares;
  • Computershare (CPU), +$0.010 (0.16%) to $6.110 on volume of 2.66m shares; and
  • MYOB (MYO), -$0.000 (0%) to $1.100 on volume of 350,000 shares.

Second in the sector leadership stakes was XTJ Telecommunications which gained 0.93% to 1828.30 points. The sector leaders were -

  • Telecom Corporation Of New Zealand (TEL), +$0.100 (1.77%) to $5.740 on volume of 1.36m shares; and
  • Telstra Corporation (TLS), +$0.040 (0.78%) to $5.140 on volume of 19.52m shares.

The bronze today went to XXJ ASX200 Financials ex Property Trusts which gained 0.14% to 5284.60 points. The sector was led by

  • FKP Property Group (FKP), +$0.120 (3.75%) to $3.320 on volume of 1.2m shares;
  • Australand Property Group (ALZ), +$0.045 (3.01%) to $1.540 on volume of 2.85m shares;
  • IOOF Holdings (IFL), +$0.180 (2.61%) to $7.080 on volume of 69,000 shares;
  • Adelaide Bank (ADB), +$0.280 (2.33%) to $12.280 on volume of 209,000 shares; and
  • Australian Stock Exchange (ASX), +$0.250 (0.97%) to $25.950 on volume of 685,000 shares.

The worst-performed sector today was XSJ Consumer Staples which lost 0.39% to 5703.10 points. The sector was dragged lower by

  • Foodland Associated (FOA), -$0.330 (1.2%) to $27.260 on volume of 223,000 shares;
  • Burns, Philp & Company (BPC), -$0.010 (1.09%) to $0.905 on volume of 2.26m shares;
  • Foster's Group (FGL), -$0.060 (1.07%) to $5.540 on volume of 5.2m shares;
  • Ridley Corporation (RIC), -$0.015 (1.03%) to $1.440 on volume of 335,000 shares; and
  • AWB (AWB), -$0.040 (0.81%) to $4.900 on volume of 412,000 shares.

Just in front of last place on the sector table was XNJ Industrials which lost 0.22% to 5175.70 points. The sector was pulled down by

  • Australian Infrastructure Fund (AIX), -$0.060 (2.33%) to $2.520 on volume of 828,000 shares;
  • Spotless Group (SPT), -$0.110 (1.98%) to $5.440 on volume of 582,000 shares;
  • Adsteam Marine (ADZ), -$0.030 (1.41%) to $2.100 on volume of 1.11m shares;
  • United Group (UGL), -$0.130 (1.35%) to $9.490 on volume of 110,000 shares; and
  • Macquarie Airports (MAP), -$0.040 (1.22%) to $3.250 on volume of 26.72m shares.
Sector Indices
CodeGICS SectorClose+/-%Volume
XIJInformation Technology412.310.52.61%12.25m
XXJASX200 Financials ex Property Trusts5284.67.20.14%53.43m
XDJConsumer Discretionary2299.8-3-0.13%21.81m
XPJProperty Trusts1799.3-2.9-0.16%69.14m
XSJConsumer Staples5703.1-22.1-0.39%32.76m

All Ordinaries Major Movers

All Ords Volume Leaders
CRTConsolidated Rutile0.640.034.07%26.98m
MAPMacquarie Airports3.25-0.04-1.22%26.72m
TLSTelstra Corporation5.140.040.78%19.52m
BHPBHP Billiton19.19-0.03-0.16%14.32m
MXGMultiplex Group2.90.020.69%11.38m
MIGMacquarie Infrastructure Group4.04-0.01-0.25%10.14m

All Ords Percentage Gainers
BOCBougainville Copper0.980.1618.9%582885
BCABaycorp Advantage3.80.5818.01%6.6m
TRYTroy Resources2.70.249.76%58900
MBPMetabolic Pharmaceuticals0.680.069.68%1.94m

All Ords Percentage Decliners
MSTMetal Storm0.17-0.02-8.33%719604
CRSCroesus Mining0.35-0.02-5.48%4.22m
VTIVirotec International0.83-0.04-4.05%608892

Elsewhere in the Region...

Regional Indices
New ZealandNZSE503348.23219.160.58%30.43m
JapanNikkei 22511737.96-24.69-0.21%0
SingaporeStraits Times2322.6413.030.56%0
Hong KongHang Seng14764.32-29.71-0.2%155m
MalaysiaKLSE Comp935.94-3.9-0.41%0